Just revisiting some key points:
- Current share price of $1.07 gives us a market cap of $400m
- Sentenial selling for $54m brings EML into net cash position of $30m+
- Current underlying operating cashflow of $40m+ ex PCSIL
- Current underlying Free cash flow of $30m+ ex PCSIL
- Current annual interest revenue excl PCSIL of approx $45m
- FY25 ebitda estimates of $62m+ as per forecast from Edison Group assuming nominal customer growth of under 10%
Based on current share price this provides us with an estimated future enterprise value of under $340m at FY25 or an EV/EBITDA multiple of approx. 5.5
Recently, Nuvei received an offer circa 14x EV/Ebitda.
Further potentials
- FCA to lift growth cap on PFS UK
- $10-15m reduction in overheads by H2 2024
- Net FTE reduction of 10% by FY25 (current employee costs annualising at $90m+ but that's including PCSIL)
- Optimisation activities to improve Interest yield on float - currently @2.54%
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Just revisiting some key points:Current share price of $1.07...
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Last
97.5¢ |
Change
-0.020(2.01%) |
Mkt cap ! $365.7M |
Open | High | Low | Value | Volume |
99.0¢ | 99.5¢ | 96.0¢ | $4.265M | 4.392M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 22522 | 97.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
98.0¢ | 199 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 22522 | 0.970 |
3 | 35866 | 0.965 |
3 | 10420 | 0.960 |
3 | 30240 | 0.955 |
5 | 162103 | 0.950 |
Price($) | Vol. | No. |
---|---|---|
0.980 | 199 | 1 |
0.985 | 87127 | 3 |
0.990 | 5641 | 2 |
0.995 | 44500 | 1 |
1.000 | 81506 | 9 |
Last trade - 16.10pm 20/06/2024 (20 minute delay) ? |
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